Venmo will launch its first credit card in 2020

Cardholders will be able to easily split and share purchases.

Today, Venmo announced that it's launching a credit card in partnership with Synchrony. The card should be ready in the second half of 2020, and users will be able to apply for, use and manage it through the Venmo app. Cardholders will get real-time, granular alerts and be able to easily split and share purchases.

Synchrony already partners with Venmo's parent company PayPal, as well as many retail brands. As TechCrunch notes, adding a Venmo-branded card could help Venmo generate more revenue. Venmo launched a debit card last year, so it was only a matter of time before it added a credit card. It's actually surprising that it took this long.